VANCOUVER, British Columbia, June 24, 2024 (GLOBE NEWSWIRE) -- SHARC International Systems Inc. (CSE:SHRC) (FSE: IWIA) (OTCQB:INTWF) ("SHARC Energy" or the "Company") is pleased to announce a non-brokered private placement of up to 2,000 debenture units of the Company ("Debenture Units") at a price of $1,000 per Debenture Unit, for aggregate gross proceeds of up to $2,000,000 (the "Offering"). Each Debenture Unit will be comprised of: (i) a $1,000 principal amount of 8.0% unsecured debenture of the Company (the "Debenture"); and (ii) 5,000 common share purchase warrants of the Company (the "Warrants"). Each Warrant will entitle the holder thereof to acquire one common share in the capital of the Company (each, a "Share") at an exercise price of $0.20 per Share for a period of 36 months from the date of issuance. The Company intends to use the net proceeds from the Offering for working capital and general corporate purposes supporting the continued growth of its Sales Pipeline1 and conversion to Sales Order Backlog2 (purchase orders). In connection with the Offering, the Company may pay finders' fees in cash or securities, or a combination thereof, to certain finders, as permitted by the policies of the Canadian Securities Exchange (the "Exchange"). There is no minimum number of Debenture Units or minimum aggregate proceeds required to close the Offering and the Company may, at its discretion, elect to close the Offering in one (1) or more tranches. The securities issued pursuant to the Offering are subject to a statutory hold period of four (4) months plus one (1) day from the issue date of the applicable Debenture Unit in accordance with applicable securities legislation. Closing of the Offering and the issuance of the securities described hereunder are subject to several conditions, including receipt of all necessary regulatory and corporate approvals, including approval from the Exchange. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities ...